Economics professor George Selgin talks bitcoin in the New York Times

A New York Times article about the rise of alternative currencies, such as bitcoin and the newer PeerCoin, quoted Terry economics professor George Selgin.

Because these alternative currencies lack much external regulation, they behave much differently than paper money, the article said.

“It’s a very intriguing thing, because in principle, you can have a kind of money with some advantages that have never been possessed by any past forms of money,” said George Selgin, an economics professor at the University of Georgia at Athens.